Seagate Tech (STX)
NASDAQ:STX
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Earnings Data
Report Date
Jul 16, 2026Before Open (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
5.05Last Year’s EPS
2.59Same Quarter Last Year
Strong Buy
Based on 17 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operational and financial wins: substantial revenue growth (44% YoY), record margins, very high free cash flow, accelerating HAMR product momentum (Mozaic 4 revenue shipments and roadmap to 50 TB), improved leverage and an investment-grade rating. Challenges highlighted were largely manageable: remaining HAMR customer qualifications, capacity constraints that prioritize cloud demand (limiting short-term ability to serve lower-capacity markets), residual debt and concentration of revenue in cloud customers. On balance, the positives (robust top-line growth, margin expansion, cash generation and clear product roadmap) outweigh the lowlights.Company Guidance
Strong Revenue Growth
Revenue of $3.1 billion in the March quarter, up 44% year-over-year and 10% sequentially; June-quarter guidance midpoint of $3.45 billion (~41% YoY growth at midpoint).
Record Profitability and Margin Expansion
Non-GAAP gross margin of 47% (up 180 basis points sequentially) and non-GAAP operating margin of 37.5% (up 560 basis points sequentially); non-GAAP EPS of $4.10, up 115% year-over-year and 32% quarter-over-quarter; June-quarter guide implies operating margin in the lower-40% range and non-GAAP EPS of $5.00 ± $0.20.
Exceptional Free Cash Flow and Cash Generation
Free cash flow of $953 million for the quarter (up 57% QoQ), representing a free cash flow margin of 31% — one of the highest levels in over a decade.
Robust Data Center Demand and Capacity Shipments
Shipped 199 exabytes in the quarter (up 39% YoY); data center accounted for 88% of exabyte shipments and 80% of revenue; data center revenue $2.5 billion, up 55% YoY and 12% sequentially.
Mozaic HAMR Product Momentum
Mozaic 4 (second-generation HAMR) began revenue shipments in late March; Mozaic 4 delivers up to 44 TB per drive (~30% more capacity vs prior generation) and is expected to represent a majority of HAMR exabyte shipments exiting calendar 2026; Mozaic 5 development targeting 50 TB with qualification shipments late calendar 2027.
Improved Balance Sheet and Capital Allocation
Retired $641 million of gross debt in the quarter (year-to-date gross debt reduction ≈ $1.1 billion); gross debt exiting quarter ≈ $3.9 billion; net leverage improved to 0.7x; Fitch upgraded Seagate to investment grade; returned ~$191 million to shareholders via dividends and buybacks in the quarter.
Build-to-Order Visibility and Customer Commitments
Nearline capacity almost fully allocated through calendar 2027 with build-to-order contracts being finalized through end of fiscal 2027; top 3 global CSPs' RPO nearly doubled to ~$1.1 trillion indicating strong future demand.
Operational Efficiency and Cost Discipline
Capital expenditures of $151 million in the quarter (~4% of revenue YTD) with FY26 capex expected in 4–6% of revenue range; OpEx disciplined at $296 million (9.5% of revenue) and expected roughly flat in dollars going forward.
STX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
STX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $643.30 | $673.64 | +4.72% |
Jan 28, 2026 | $442.16 | $445.79 | +0.82% |
Oct 28, 2025 | $222.03 | $264.46 | +19.11% |
Jul 29, 2025 | $151.54 | $146.32 | -3.44% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Seagate Tech (STX) report earnings?
Seagate Tech (STX) is schdueled to report earning on Jul 16, 2026, Before Open (Confirmed).
What is Seagate Tech (STX) earnings time?
Seagate Tech (STX) earnings time is at Jul 16, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is STX EPS forecast?
STX EPS forecast for the fiscal quarter 2026 (Q4) is 5.05.
